Money Laundering Regulations

The Money Laundering Regulations apply to a number of different business sectors, including accountants, financial service businesses, estate agents, solicitors, and other regulated service providers.

Every business covered by the regulations must be monitored by a supervisory authority. Some businesses may already be supervised, for example because they are authorised by the Financial Conduct Authority (FCA) or belong to a professional body such as the Law Society.

Where a business is not already supervised and falls within a regulated sector, it may need to register with HMRC for anti-money laundering supervision.

Anti-Money Laundering Supervision

Hammad advises businesses and individuals on registration requirements, HMRC supervision, compliance obligations, and disputes arising under the Money Laundering Regulations.

HMRC acts as supervisory authority for a number of sectors where businesses are not supervised by another appropriate professional or regulatory body.

• Money service businesses not supervised by the Financial Conduct Authority
• High value dealers
• Trust or company service providers not supervised by the FCA or a professional body
• Accountancy service providers not supervised by a professional body
• Estate agency businesses
• Bill payment service providers not supervised by the FCA
• Telecommunications, digital, and IT payment service providers not supervised by the FCA

Registration & Compliance Issues

Businesses that carry out regulated activities by way of business may need to register with HMRC before trading. Failure to register when required can lead to penalties, enforcement action, or prosecution.

• Advising on whether HMRC registration is required
• Assisting with registration and supervisory compliance
• Responding to HMRC enquiries and information requests
• Advising on penalties, cancellation of registration, and enforcement action
• Supporting clients facing allegations of non-compliance

Hammad provides clear and practical advice to help clients understand their regulatory position, manage HMRC engagement, and reduce the risk of penalties or disruption to their business.

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